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Shriram EPC gained on strong March-quarter results. The stock climbed as much as 10.5 per cent to Rs 20.50, highest since June 1.
The construction engineering company had on Thursday posted March-quarter profit of Rs 0.87 crore on a standalone basis, compared with a loss of Rs 12.25 crore a year earlier. Total expenses nearly halved to Rs 148 crore.
The company said that it has recently resolved a dispute with a customer in Basra, Iraq because of which order worth $230 million was restored to its joint venture. The order will be executed by the joint venture in partnership with an Iraqi company over next 3 years.
More than 358,000 shares changed hands, compared with 30-day average of 243,000. As of Thursday, the stock had fallen 41.9 per cent this year.
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